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Defense Spending of Partner Countries
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Since the taking of Crimea by the Russians in 2014, tensions have been rising in the Baltic Sea Region. During 2016, a Russian SU-27 fighter intercepted a US RC-135 flying within international airspace and a pair of Su-24 Russian jets flew what was described by US defense officials as mock strafing runs over a US Navy destroyer as it was conducting military exercises with Poland in the Baltic Sea. In response to this activity, the US announced a $3.4 billion increase to defense spending for Europe during 2017 in order to send additional brigades to the region. The Nordic Defense Cooperation, often referred to as NORDEFCO, comprises 5 Nordic countries within Europe (Denmark, Finland, Iceland, Norway, and Sweden) formed to collaborate on the development of their defense capabilities. The countries serve to protect Europe’s eastern flank, and as tensions continue to escalate in the Baltic region defense spending by these NORDEFCO partners has taken an entirely new meaning. The primary focus of this research is to shed light on some key defense spending dynamics by the organization’s country partners. Frost & Sullivan’s NORDEFCO Defense Posture contains a review of major programs and trends for each country in addition to key competitors having a significant influence on the individual NORDEFCO partner countries.The study period is from 2016 to 2021, with 2016 as the base year. Questions this research will answer include:• Does the NORDEFCO defense market offer growth opportunity potential, and if so what will defense budgets look like for each of the country participants over the next 5 years?• Which defense competitors are actively dealing with NORDEFCO country partners?• What are some of the key defense programs currently being funded by NORDEFCO participants?• What are some market dynamics that serve as drivers and restraints to the NORDEFCO market?• How are companies outside of the region able to participate within the NORDEFCO market space?• How is the new US administration affecting NORDEFCO spending behavior?
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